Best Nationally Available High APY Liquid Accounts

Best Nationally Available High APY Liquid Accounts


For arguments sake, if both banks credit deposit instantly, do you simply pull from each bank $5k each Friday to get double interest on $10k each weekend?


Nice idea but not workable unless you had an extra $10,000 in both places. They credit instantly but do not allow you to move/remove the funds for up to 5 days depending on what bank we are talking about.


For those putting there funds into Northern Bank I did note the rate was only guaranteed until 06/2019.

From ken’s site:
Northern Bank Direct (internet bank) has increased the promo rate on existing Money Market Accounts to 2.50% APY on balances up to $250k. Guaranteed through 6/31/2019


Five months of rate lock seems to me OK.

For how long is the 2.5% APY rate locked at EBSB?


Good point. Right now I’m waiting on EBSB phone line. I will ask when they finally answer.

But my real call is about funds that were transferred yesterday to EBSB. Funds have been removed from Advancial & still not showing at EBSB. That makes me angry!!


I just talked to a Supervisor at EBSB & I’m even more angry. My funds that left Advancial yesterday may not show up for 3-4 days. So I’m going to transfer funds out of EBSB & into Northern Bank. So then she told me I had to leave funds for 180 (?) days to avoid a penalty for closing acct… In my anger I may have missed out on the exact amount of days I had to leave funds there. But I have $75K in EBSB that have been there for a long period of time.

I forgot to ask about how long is the 2.5% rate locked.
Should I just forget it & leave my money in EBSB? :wink:


First you need to contact EBSB again but not until AFTER you have calmed down a good bit.

Second, closing accounts is not generally a great approach. I, and others, at NBD for example had left a small “keep alive” deposit at NBD. That way when the rate jumped we were enabled easily to add funds.

Find out how much you must leave at EBSB to avoid penalty and/or fees, leave that much in the account, and pull out the remainder.

I just did that at Virtual. Pulled out thousands, but left $100 in the account simply to keep it alive. You never know what’s around the next corner.


First, 3-day transfers are rather common for smaller banks/credit unions. If you dont know, and do care, first test with a small transfer. On the bright side, with 3-day transfers there usually isnt any further hold on the funds.

Second, the closing penalty is for closing the account, leave a dollar in it and no problem.


There is one counter-argument to leaving an account open, and that is that you would not be able to churn a savings bonus for new accounts. The $500 Capital One bonus I’m currently opening is such an example … for this one, they only looked back to 2016. I would say that’s not normally the case, though.

If you do keep a small amount in a financial institution, consider making sure it generates < $10 interest each year. Then you won’t have to mess with it at tax time.


I didn’t make any change with EBSB yesterday. As shinobi said, I should calm down first. Well first thing this morning I checked my acct at EBSB. My transfer of funds into my acct was there & dated yesterday, 1/29. So I don’t know if my tirade made any difference or that is how they do transfers.


Happy for you, pattyb53. Sounds as if you’re back in the driver’s seat, and that is good. Now all you have remaining to do is to decide your next move! :grinning:


I noticed some or many of you are taking your funds out of Ally. So, I’m checking on that “Earn up to $1000 Bonus with AB’s Payback Promotion”. I joined! It reads $'s must remain in acct until 1/15/19. Bonus $1000 will be paid by 2/15/19.

My question… If you withdraw those funds now will you still get the $1000 later?


Your tirade had no effect whatsoever.


It’s after 01/15. You can do whatever you want with your money. Just don’t CLOSE your ally account or they won’t be able to deposit the bonus.


The banks are not required to send a form if the amount is less than $10. You, however are required to report all income, no matter how small, and regardless of whether you got a form or not.
The IRS allows rounding, so an amount of 49 cents or less rounds to 0 and is not reportable. So 49 cents is when “you don’t have to mess with taxes” Everything above that is reportable and taxable.


@shinobi What are the limits on how much money can be sent OUT from Purepoint via ACH in a 30 day period? For instance ally will allow 1 million in within a 30 day rolling window and only 600K out. (again ACH…no limit via check, wire etc)


Daily limit at PurePoint is $250k, rolling monthly limit is a million bucks.


Ok I’m confused…many times in past Bank A might have a limit of 5K they allow to be ACH’d daily but if initiated at Bank B then Bank B’s limits apply.

If I open a CD at Bank A and fund it via routing/account # of Bank B 1) is that still an ACH and 2) Will the withdrawal be allowed to go over any monthly limit imposed by Bank B on how much can be ACH’d out?

I’m aware Checks and Wires would get around this issue…I’ve ordered checks but they will take up to 10 business days…that leaves wires…missed the window for today so just evaluating options.


Not to worry. Your inquiry is a reasonable one:

The limits I stated for PurePoint apply only to ACH transactions initiated at the PurePoint website. Movements of money, via ACH, into or out of PurePoint, which are initiated external to PurePoint and not at their website, do not count against the PurePoint limits.


Just a thought for my fellow liquid account fans:

With this week’s Fed statement proclaiming “patience”, perhaps it would be well to inventory, and to focus on, liquid accounts which offer us rate guarantees. And with liquid accounts having no rate guarantee, it might be well to monitor your interest rate more frequently than was necessary when interest rates were generally trending higher.

My own liquid funds are with NBD (guarantee), Ally no penalty CD (guarantee), AgFed no penalty CD (guarantee), and PurePoint (no guarantee). Gonna be moving some funds from PurePoint to NBD.